The prices in real estate in Kitchener, in the Ontario region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Kitchener has had a strong decrease during the last 6 months. In January, the average price per sq.feet was $7,577. In the following month the price per sq.feet decreased considerably to $398. The price for the following two months in (March, April) had a considerable decrease of 10 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 18 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $2,189.5 to $391 during May, and June.
Based upon to the price in Kitchener (cities), these have remained the same in the last 6 months. The price in January is $561,855, rising in February till $601,761. In the following two months the average price has remained the same with regard to the previous two months from $581,808 to $591,509.5. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $586,658.75 and $577,423.5 between May and June.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $588,723 they are 42 % more affordable than the average price for Kitchener. The properties with the highest average price have 4 bedrooms, Their price is 38 % more costly than the average. After that we have properties with 3 bedrooms priced at $536,779.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $369 / sq.feet, with an average $398 / sq.feet price in Kitchener. The properties with the highest average prices have 1 bedroom. They are 26 % more expensive than the average followed by properties with 2 bedrooms with a price at $390 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $588,723 it is 40 % cheaper than the average price in Kitchener. "Apartment" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Townhouse". At a price of $569,600 it is 1 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $393 / sq.feet followed by "Townhouse" priced at $400 / sq.feet. "Office" is the most costly type of property with a $76,653 / sq.feet cost followed by "Condo" with an average price of $63,345 / sq.feet.